India: Bid premium at MCL’s coal auction falls to 144% in Dec

Mahanadi Coalfields Ltd (MCL), the biggest subsidiary of Coal India, conducted an auction for 2.64 mnt of coal on 14 Dec’22. The entire quantity was booked at the price realisation of INR 2,480/t. The bid premium over notified price in December stood at 144%, registering a steep fall from 300% in November.